Kansas City Southern Q2 Profit Advances, Results Beat Estimates - Quick Facts

(RTTNews) - Freight railroad company Kansas City Southern (KSU) Friday reported second-quarter net earnings that increased, as revenues rose on the back of higher grain and automotive shipments. In addition, both earnings and revenues topped analysts' estimates.

For the three months to June, net earnings surged to $129.8 million or $1.18 per share, from $15.4 million or $0.14 per share a year earlier.

Excluding certain items, earnings totaled $133.7 million or $1.21 per share, compared with $106.3 million or $0.96 per share a year ago.

On average, twenty analysts polled by Thomson-Reuters estimated the company's earnings to be $1.17 for the quarter. Analysts' estimates typically exclude one-time items.

Quarterly revenues advanced to $649.7 million from $579.3 million in the corresponding period last year. Analysts expects revenues of $645.05 million for the quarter.

Carload volumes rose 7 percent over the prior year, the company said in a statement.